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Newcastle United's transfer budget in January will be considerably lower than expected, according to reports.
The Magpies have been taken over by a consortium backed by Saudi Arabia's Public Investment Fund in a move that puts the North East club among the richest in world football.
The new owners are targeting Premier League success in the next ten years and had been widely tipped to splash the cash in a bid to strength a squad that desperately needs improving.
Household names from all over the world have been linked with Newcastle following on from Mike Ashley selling up, including the likes of Philippe Coutinho and Aaron Ramsey.
But when the transfer window opens, The Telegraph say the club's budget for reinforcements will be £50 million - a figure much lower than what most Newcastle supporters will have been hoping for.
Financial Fair Play is in place and puts a cap on spending, but Newcastle would have actually been able to spend £190 million - £40 million more - if they wanted to.
🚨⚽️ | NEW: Newcastle have set a budget of £50 million for their January transfer business, despite financial fair play regulations allowing for spending of up to £200 million— Football For All (@FootballlForAll) October 16, 2021
There was plenty of speculation suggesting manager Steve Bruce would be relieved of his duties straight away but he remains in charge for Sunday's visit of Spurs, which is the 1000th of his career.
A whole host of targets have been mentioned for the first transfer window under the new regime but Jamie Carragher reckons the club shouldn't be overly ambitious from the off.
He believes James Tarkowski of Burnley and Manchester United's Jesse Lingard would be perfect additions.
Speaking on The Overlap, Carragher said: “You were linked with Tarkowski, and I think… It may not be sexy, he’s coming from Burnley. But I think you’re going to need five or six of those players to make sure you stay in the league.
“I think you’re going to have to make those type of signings that aren’t going to excite people early on. It’ll be players that will get you to mid-table. That type of signing.
“Maybe Jesse Lingard. And I do like Jesse Lingard, I think he’s a good player. But what you’ve also got to remember is that every other club in the country is thinking ‘Ooft, who are Newcastle going to take off our hands? Oh, fu**in’ hell, we’ll get a few quid out of them’.
“So Burnley are going to say 40 or 50 million for the centre-back, Man United will probably say 30 or 40 for Jesse Lingard. And you’re just going to have to pay it.”
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